Back in my HS days, full-time minimum-wage work paid $1.25/hour. Luckily, school at the state college was running $1200/year plus housing, food, etc, and engineering school books (although VERY expensive) were still within my reach.
Based on my mathematics SAT scores, I was offered comprehensive scholarships in Michigan and Arizona and was encouraged to apply for student aid at MIT. I never followed those up, because I wanted to live in Maine and earn a comfortable income, and at that time, pulp and paper was the dominant industry here and the U of M had a killer Chem E program sponsored in part by the P&P industry. I might have gotten a free ride at another school, but the freedom to hitch-hike home for a weekend to visit friends and family looked a whole lot better than buying plane tickets to come home once or twice a year.
You've got to make choices. I chose to live simply and school locally, so that I could maintain my connections with my friends and family. It may have been a better choice to spend the time exploring MIT or perhaps accepting full-boat scholarships at other schools, but that's not my way. I have always lived within 50 miles of where I was born, and my wife and I are rooted here. I have jumped jobs fearlessly as opportunities have come up, but I'll always live here.
BTW, hitch-hiking with long hair and a knapsack wasn't all that safe here in 1970. I've dodged beer-bottles on the road and have hit the woods trying to avoid car-fulls of rednecks. Luckily, I ran cross-country all through HS, and could outrun practically anybody intent on making an example of me. One night at the Madison Legion hall, I was surrounded by most of that town's football team after the quarterback's girlfriend and I hit it off. I chose the most likely target, stomped on his instep, and ran over him. The last pursuer gave up at about a quarter-mile, and I only had to walk home about 20 miles. She was REALLY cute!